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of the fiscal cliff. today on the senate floor, minority leader mitch mcconnell abusing president obama -- accusing president obama of being back on the campaign trail instead of working with lawmakers. have you seen anything to indicate that we are close to a resolution, or even moving in that direction? >> i haven't. it's hard to come to a resolution when one of the parties to that isn't around. the president, as you mentioned, is out on the campaign trail again. >> greta: you're referring to his trip this friday to pennsylvania. >> right. you've got to have presidential leadership to do big things. that's what we need right now. obviously republicans are here, ready to go to work, ready to solve the issue of the fiscal cliff. what the president wants to do, however, is to raise taxes on small businesses, almost a million small businesses who employee 25% of the workforce. that's his proposal. republicans cannot be for that. the president said in his press conference right after the election that his number one priority is jobs and the economy. we agree with that. but if your number o
to go to work, ready to solve the issue of the fiscal cliff. what the president wants to do, however, is to raise taxes on small businesses, almost 1 million small businesses who employ 25% of the workforce. that's his proposal. republicans cannot be for that. the president said in his press conference, right after the election, his number-1 priority will be jobs and the economy. we agree with that. but your number-1 priority is jobs and the economy you don't grow the economy to create jobs by raising taxes on small businesses, the people who create the jobs. >> white house press secretary today, jay carney said when he was asked when the next meeting would be, the answer was, it would come, quote at the appropriate time. >> well, nobody know what is that means -- >> no! that's my point. is that -- is that, you know -- look, all of have you had a vacation, i refer, to while you are campaigning the last 3 months. have you known about this fiscal cliff for a year and-a-half. now the president's going out, friday, to do, as you say, campaigning. the press secretary says there will be a
to u.s. leaders negotiating over the so- called fiscal cliff about the serious financial impact looming on the horizon. that's where we begin this morning. how confident are you about the state of the u.s. economy? what steps are you taking to prepare for the potential impact if the u.s. goes off the fiscal cliff? give us a call this morning. you can also catch up with us on all your favorite social media sites, twitter or facebook. or e-mail us. thismorning to you on wednesday, november 21. we are talking about federal reserve chairman ben bernanke's comments yesterday about the fiscal cliff, and getting your thoughts on bthe u.s. economy. and this headline -- also, in the financial times -- to tell little bit more about ben bernanke's , and sister day we turn to david clarke of "politico," their financial services editor. thanks for joining us. guest: thanks for having me. host: what is making the most waves from his speech? guest: in the past he has warned that congress and the president's path to take care of the fiscal cliff. yesterday he said it is not simply doing it but how they
guess who. you, and of course the rest of us. we're all on the edge of this fiscal cliff. >> we don't think that raising tax rates is something that's good for this economy, that will help grow jobs. and so what we have said is there are ways for the federal government to have more revenue if we grow this economy and engage in tax reforms. >> every economist i respect says if you raise tax rates at this time -- in fact the president said that a couple years ago -- that it harms the economy. we're trying to help the economy. and so unless i can be convinced that raising tax rates will be beneficial, then obviously i think there's reason and grounds for my position. >> the truth is this country does not need to go through this fiscal cliff, which is fundamentally a huge tax increase and very little spending cuts. we're favoring a huge automatic tax increase that needs to be changed. >> bottom line we can't go off the fiscal cliff. democrats have harry reid. we have mitch mcconnell. get them in the room. no one gets all they want. if reagan and o'neill could do it, obama and boehner sh
't want to tip them off. we need to let this go. the fiscal cliff and jobs are far more important. >> and let's talk about the fiscal cliff and jobs. in your time in california you worked on in the state assembly, a state hit hard by a fiscal y crisis. >> i sure did. >> i want to talk to you about something you said in terms of medicare reform and medicaid. obviously republicans are saying, look, in exchange for any type of taxes going up, we want to see some real entitlement reform. you talk about cracking down on waste, fraud and abuse. is there enough revenue from waste, fraud and abuse and m medicare to get the type of serious deficit reform needed to bring down the $16 trillion debt? >> well, you know, i think anytime you're talking about a deficit, there's two ways to bring it down, and i know you know this well. you're either going to raise revenue or have cuts, and i would continue to argue for a balanced approach which means i do think you can find savings in both programs. but what i'm concerned about is what the real agenda is and the real agenda, in my opinion, is to
of the so called "fiscal cliff" negotiations. today we are focusing on the bush-era income taxes. we're having a roundtable discussion in our last hour from a democratic and republican perspective on that. so stay with us. madeleine in thousand oaks, california, republican. caller: i am the wye fire the teacher. i feel i am an independent republican. -- i am the wife of a teacher. in california we feel we have too many administrators. the teachers need time to get further education and that should be demanded. there are teachers who should not be there. but there are parents who are very aggressive who come to school and have come on the playground and have hit the teachers. the teachers have insurance if something happens. one student came to school with her mother is underpants. it's not only the military that get tempted, but teachers get tempted also. host: we have a line set aside for educators this morning. we want to hear from them as well as we continue this discussion on how you would fix your school system. yesterday in washington recovered an event with florida governor je
from the desk with the couch. >> shepard: this is the fox report. avoiding the fiscal cliff. now the president and house republicans plan to hit the trail in search for support for their competing plans. plus, the u.s. ambassador, susan rice, meets with some of her toughest critics. and apparently they don't like what she has to say. >> we are significantly troubled by many of the answers that we got and some we didn't get. more disturbed now than i was before. >> shepard: republican senators criticizing ambassador rice for her initial comments on the libya consulate attack. >> ambassador rice has no responsibility for collecting, analyzing and providing intelligence. >> shepard: tonight the ambassador responds. >>> plus, the people of egypt trying to avoid trading one dictator for another. fighting back against a president who gave himself new powers. tonight a potential crisis point as the leader tries to put himself above the law. and how will the u.s. handle this? >>> plus, the chances of winning are ridiculously low. but millions of us are still lining up for a shot at a rec
to tackle the tough fiscal cliff and make decisions about taxes, spending, and budget cuts. states are looking at how they can be affected. a question for you this morning, whether states should have a say in budget talks. here are the numbers to call. if you can also find us online. here is the headline in "the new york times." the pew center has a new study out called "the impact on the fiscal cliff on states." here is what it says. we would do more into these and how they will specifically affect states on an individual basis. there is a question on whether the fiscal cliff would hurt. it says -- our question for you this morning is whether the states should have a stake of in negotiations. looking more in the story "the new york times." it says -- some of the benefits states could receive, nobody is retained that president obama and republicans in congress will fail to reach an accord because they feel -- they fear that the resulting combination of spending cuts and tax increases could prompt another recession, which their states can ill afford. let's go to houston, texas and h
. >> if not, we go off the supposed cliff. >> the fiscal cliff or slope. the bump of various height. >> it's going to sell that fiscal cliff. >>> thelma and louise might need to make room in the car for the president of the united states. at the white house today, senior obama administration officials met with liberal leaders and union officials. "the washington post" reports that one told him after the meeting, quote, would the white house go off the cliff if it's between that and compromising their core principles? i was left with the impression that they would. illinois democratic senator dick durbin spoke today at the liberal center for american progress where he said this about the possibility of going off the cliff which fears of this show know is is really more of a curb than a cliff. >> some have called let's go over the cliff and watch what happens. we know if we're not careful, it will in fact stop economic growth and hurt everyone through every income category, particularly those most vulnerable. >> what he did not say is he must not go off the cliff. because the cliff is is pre
they are republicans. then theyou have republicans. i don't see how we can survive this fiscal cliff if john boehner does not follow the lead of the president. he said a couple days ago we have to put obamacare in a position to and take some cuts from it. that's crazy. john boehner and mitch mcconnell and all of them have given the president a hard time. that's why we voted for these people and they are supposed to do our bidding, because people are hurting. host: let's take it to the state level in a carolina, state legislature, republican governor, republican. what are the big ticket items they will start working on? caller: i don't think the governor knows himself. he claimed that he will bring relief to the state. i don't see how he's going to do it. they are going to cut a lot of social programs that they call wasteful spending. people are going to really see what he's made of. what is your name again? host: what is that? caller: pope was the one along with the koch brothers that got it mccory into office. they are bought and paid for. they don't do the people -- everybody needs to be represent
to washington this week and with just 36 days left to avert the so-called fiscal cliff becoming more apparent that senate republicans want a deal and they would like one pretty quick. but while there may be a bi-p t bipartisan consensus to raise taxes on the wealthy, the sides are still far apart on where the revenue will come from. staff level negotiations are a little bit more than stalled. not fully stalled but they didn't go so great last week and it's unclear where speaker boehner will get the votes for a deal that would raise tax rates. which is why he's pushing against that idea. two senate republicans up for re-election in 2014 have bucked norquist saying they are willing to let taxes ride. chambliss spoke to his hometown station. >> that pledge i signed 20 years ago was valid then. it's valid now, but times have changed significantly. and i care more about this country than i do about a 20-year-old pledge. >> on sunday south carolina senator lindsey graham also broke ranks saying the norquist pledge can no longer be a conservative litmus test. >> when you're $16 trillion in it debt,
heard of and saying who elected him? >> a lot just know they don't want to go off the fiscal cliff. here is the question. if republicans are building to eliminate deductions for wealthy, make the wealthy pay more, is it too far for democrats to push to get rates increased? what's the difference? >> i think the real problem here with democrats as far as democrats are concerned is how willing to do sbiegts entitlement reform are they? you heard lindsey graham say he is willing to change position on taxes if democrats come to the table with entitlement reform. president obama privately indicated he is willing to stick his neck out and durbin willing to do that and will nor liberal democrats come to the table with entitlement reform. we'll see if that is a bigger dynamic that changes this week. >> what is the danger i guess is one question because there are democrats like patty murray saying it isn't a cliff, it is a slope. >> the danger is a massive sudden drop in government spending and even if you hate government spending, spending does keep the economy going and when you cut that much sp
, the fiscal cliff. one part of the fiscal cliff arc across the board -- across the board -- are across-the-board spending cuts. they will be cutting housing and food safety and the entire range of domestic programs. for education, that will be head start, which is in the department of health and human services. there will be a $4.80 billion cut, the largest education cut in the history of the country. that will move us that courts whether the goal is -- move us backwards. our biggest challenge in the short-term is to work together with groups like the urban league and the national council of la raza to come up with a balanced approach to deficit reduction and ask people who can pay a little bit more to do so without balancing the budget on the backs of children and students and working people and low income people. a couple of quick things i want to say. we are also facing increasing enrollments. enrollments are expected to go up in the next decade at the elementary and secondary level. we have 22% of children in the united states living in poverty, the highest level in decades. it cre
of a compromise as we head for the fiscal cliff? senator lindsay graham, one of the latest high-profile republicans that says he will break the longstanding pledge regarding taxes and says he will do it for the country, but only if democrats are willing to make reforms on entitledment programs, medicare and medicaid and social security. that is big if. good morning, hope your turkey was great. martha: good morning, everybody, i'm martha maccallum. you've got this. congressman peter king and now senator bob corker say they will ignore the decades old pledge that was signed by 241 house members and senators. he says he believes it is a huge game-changer. >> when you're $16 trillion in debt the only pledge we should make to each other is to avoid becoming greece. republicans should put revenue on the table. we're this far in debt. we don't generate enough revenue. capping deductions will help generate revenue. raising tack rates will hurt job creation. bill: this is the heart of the matter. stuart varney, host of "varney & company". morning to you, sir? >> this is a real shift. one
ground on the fiscal cliff? oklahoma's tom cole, a member of congress says the grand old party should take president obama's party. doo extend bush tax cuts for all but the top 2%. that's a sign some republicans may be open to higher rates for the rich. >>> is it possible negotiators could learn something from the most important movie out there right now "lincoln." doris good win joins us. >>> let me finish with how lincoln outlawed slavery for good and how de it using politics. this is "hardball," the place for politics. with the spark cash card from capital one, olaf gets great rewards for his small business! pizza! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? he loves risk. but whether he's climbing everest, scuba diving the great barrier reef wi
at the meeting later this morning. senator mccain is also talking about know big topic the fiscal cliff. he says the current tax cuts could be extended for another six months. >> meeting this week is interesting. to be a sense of urgency as the market indicates. i think it depends on both sides and what they view is the lesson of the election. republicans maintain their majority in the house. the preside there's a possibili could kick the can down the road for 6 months or so by putting everything on hold. if you are really going to solve this problem if you are really going to address it you have to go after entitlements. everybody knows that's the third rail. that part has to be bipartisan the way it was with tip o'neil and ronald reagan. >> the fiscal cliff making investors nervous but not consumers. that's one of the stories you can bank on this morning. if you looked at cyber monday all of the deals you are not alone. early numbers show that sales were on track to break records. lauren simonetti joins us to look at these numbers. >> i went shopping yesterday, did you? >> i did, actually. >>
to break. so goes the story that is the fiscal cliff. the president is stepping up his outside game with events this week to 0 build public support. some call it posturing for his preferred combination of tax ineeses and spending cuts. a contrast from how the white house conducted itself during the 2011 debt ceiling standoff. ultimately this fight comes down to another number, 218. the number of house votes needed for a deal. and it's not clear that his efforts will persuade 100 to 120 house republicans who are needed at a minimum for boehner to get a deal done to get to the 218 overall. remember these republicans believe just as fervently as the white house does that they have their version of public opinion on their side. why can do we think this? when it comes to their own voter, both sides are right. the president won re-election fairly handily, but so did republican incumbents in the house. these are some stunning statistics that gerrymandering has created. 93% of the 205 house republicans who ran for re-election won. 88% of them won with 55% of the vote or more. the president
against the clock trying to reach an agreement on the fiscal cliff that is fast approaching. the president is trying to ramp up public pressure on congress to accept his ideas for debt reduction in. in the coming days he meets with small business owners, middle class taxpayers, around corporate leaders. friday he tried to recapture his winning spirit in pennsylvania touring a toy manufacturing plant. i don't think the event is in whoville but the republicans as grinch playbook is probably evident enough. to hear some of the president's team, they see this christmas going their way. >> i think we're going to get this done. i'm more positive than most. i'm heartened by many ever my senate republican colleagues who have stepped forward and basically said that their real oath is to america and not to a washington loppiest named grover norquist. >> it's actually true. some republicans have signaled a willingness to buck grover norquist and his anti-tax pledge and raise some new revenue. "the wall street journal" weighed in with a reasonable argument. president obama's re-election means the taxe
the ground game was in florida. can he put this ground game to work to fight the fiscal cliff? the "hardball" story on that one is coming up right now, the place for politics. ts and hasbro trust duracell to power their donated toys? duralock power preserve. it locks in power for up to 10 years in storage. guaranteed. duracell with duralock. trusted everywhere. >>> "the new york times" has just listed "jack kennedy: elusive hero," my book, on the best-seller list. it's a big honor for the paperback edition. it's a great book of american heroism, the story of jack kennedy, who he was when he lived, who led us, and, of course, who inspired us. it's a perfect upbeat gift for yourself or someone who shares our love of history and american greatness. we'll be right back. >>> well, we're back. republicans have always mocked the president's experience as a community organizer. remember those laugh lines back in 2008 at the convention? here they are again. >> he worked as a community organizer. what? >> i guess a small town mayor is sort of like a community organizer except that you have actual resp
and talk about the fiscal cliff. the day after day. lawmakers hike their taxes. one of them is here to join me and explain that. more "money" coming up next. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. p@ [ male announcer ] break from the holiday stress. i have obligations. cute tobligations, but obligatio.ing. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large profession invesrs choosese ishares for their etf. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. melissa: the days are flying by. have you noticed that there is no solu
areas of bipartisan agreement on the fiscal cliff. "the wall street journal" reporter discusses -- host: welcome to "washington journal." of the senate host: an increase in payroll taxes and the scheduled spending cuts across the board. a couple republicans yesterday signaled they could be flexible on the anti-tax pledge that they signed if it gets them closer to a deal with the white house. what is your reaction? here are the numbers to call. you can also find us online. send us a tweet or join us on facebook. you can also e-mail us. here's "usa today" looking at what happened on the sunday talk shows. it says -- the south carolina senator became the second republican senator in recent days to back away from a no tax pledge devised in the decades ago. the willingness to break ranks could prove crucial as gop leaders and democrats try to reach a deal before taxing and spending changes take effect in january. new york representative king says economic conditions have changed since the anti-tax pledge first emerged. he's a republican. that thee gop's say fiscal cliff deal is what
return to capitol hill tomorrow to try to work on a deal to avoid that fiscal cliff you've heard about a time or two. >> clayton: yeah, peter doocy live in washington this morning with the latest on where these negotiations stand and we can expect, i guess, tomorrow, peter, they get back to work after thanksgiving? >> reporter: that's right, clayton, so far just one meeting we know about the small, but bipartisan group of lawmakers trying to speteer the country away from the fiscal cliff and represent their parties. right after the bat after the first meeting speaker boehner told us he's ready to agree to new revenue in a deal, but the deal needs to be balanced. >> to show to your seriousness we've put revenue on the table, as long as it's accompanied by significant spending cuts. and while we're going to continue that revenue on the table. it's going to be incumbent for my colleagues to show the american people that we're serious about cutting spending and solving our fiscal dilemma. >> democrats, obviously, control the white house and the senate, but they still need the republican-le
have an admiral pass in my pocket. who is with me. meanwhile, we have a fiscal cliff to climb. her meetings with senators mccain and graham and ayotte created more questions than answers. ambassador susan rice taking her case to two more republicans today. peter doocy has more. >> you are right, brian. ambassador rice will meet with susan collins from maine and bob corker from tennessee . ahead of his meeting that what worries him most about ambassador rice she may be more concerned about delivering the party line than pressuring the administration when it might be off base. three other republican senators met with the embattled ambassador and that meeting did little to quiet their harsh criticism of her job performance. >> i am more concerned than i was before that the 15th of september explan of how four americans died in benghazi, libya. >> why she wouldn't have asked i am the person who doesn't know about this and going on every show. it is not only the talking points unclassified but part of her responsibility as the ambassador . united nations she reviewed more than that. >>
, and businesses tend to be more worried about things like the fiscal cliff, they're more worried about the troubles in europe, they're more worried about the slowdown in china. you do have the disconnect. the big concern is which way is it going to go? who is going to win this tug-of-war? so far it's the consumer but let's hope it's not the other direction because as i said, let's hope that the businesses will eventually come around to thinking about things the way consumers are. . >> brown: nancy cohen, i want to come back to you on the question of online shopping and the changed landscape. does the rise of online shopping have a real impact on the economy or is it sort of shifting, transferring, where people buy their things? >> well, that's a very open question, partly because this is so new. the marriage and the magic of online plus brickes and mortar. i mean, there's no question people are visiting online web sites more often than they do stores. whether that adds up to incremental organic growth is a question we just don't know. remember, we're starting with all online sales from
. >>> but also this half hour, higher taxes on the table as the country edges closer to that fiscal cliff at the end of the year. some republican lawmakers are rethinking their promise not to raise the taxes. >>> and then here's a tax problem worth having, the tax bill on a record $425 million powerball jackpot that's up for grabs wednesday night. people across the country are dreaming. >> and we all know the chances are beyond slim. i think, the money you are putting down is for the fantasy. just that moment, you go, "man if i won this, wouldn't that be great." you're buying that moment of escape. not buying a real shot. >> you're very familiar with fantasizing, right? >> oh, yeah. >> money. winning. >> helps you get through the day. >>> and later they're back. 'tis the season for my favorite family, the griswolds, what got them together for 30 seconds after 23 years. can't believe it's been that long. details on what they're doing coming up in "the skinny." if you do not like national lampoon's "christmas vacation." you have no soul. funniest holiday movie ever. love the griswolds. >> c
. that was the dow. fearing the fiscal cliff approaching. since then it's been very quiet out of washington. we hear a push here arc nudge there, but nothing sizeable is happening. what does the market do, they put their pencils down. we're seeing volume, meaning who's trading. very low ahead of the fiscal cliff. and even though as you mentioned sentiment is that it's very unlikely that we will fall off the cliff, the market as i said, likes to be optimistic. they like to play the bull. and if we do end up falling off the cliff, it doesn't just affect defense spending. corporate ceos across the board are simply not spending money. they're not expanding. you're seeing capital expersondy turs. we could fall into a recession if, in fact, we fall off a cliff. most people don't think we will. we're really seeing no true signs of congress beyond a headline here, a headline there. >> as we've seen in this market time and began, what goes down always goes back up when it comes to wall street. even if we do see big drops leading up to a deal. >> absolutely. just today we spoke with a chief strategist this mo
this ground game to work to fight the fiscal cliff? the "hardball" story on that one is coming up right now, the place for politics. >>> "the new york times" has just listed "jack kennedy: elusive hero," my book, on the best-seller list. it's a big honor for the paperback edition. it's a great book of american heroism, the story of jack kennedy, who he was when he lived, who led us, and, of course, who inspired us. it's a perfect upbeat gift for yourself or someone who shares our love of history and american greatness. we'll be right back. those little things still get you. for you, life's about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take n
come next year alone for the average family of four if the nation is to go over the fiscal cliff. you know, there was one republican, you talked about the glimmers of hope for a compromise. it's tom cole of oklahoma who was quoted yesterday and this morning saying, you know what? let's go along with the president. you heard the sound bite. the president once again calling for congress to pass a tax cut for everybody making under $250,000 and come back to the rest later but the problem is, tom cole doesn't have the votes and neither does john boehner even if he wanted to put that on the floor so the goal of the pr campaign, the machinery kicking in to gear at the white house is to turn the voettes, get votes. swing counties, you know, the election may be over but the campaign continues. there are republicans around in these counties around philadelphia, three of the four districts, as a matter of fact, who can be counted only as swing voters in the house of representatives and that's the battleground where the fight is playing out, steve. >> okay. thanks as always. >>> now bringing in
.m. majority whip dick durbin will talk about the so-called fiscal cliff and deficit reduction at the center for american progress. fiscal cliff, a combination of those expiring tax provisions and budget cuts that could take place the beginning of the new you. they include the bush-era tax cuts and sequestration. live coverage starts at 1130 eastern also on c-span. we are likely to about the fiscal cliff during the senate session today getting underway at 10 a.m. eastern, just over a half hour from now. after the gavel and majority leader reid will be recognized to speak and will likely outlined the schedule for the day which could include debate on defense programs and policy, and possibly legislation to do with equal rights, people with disabilities. centers will us from 12:30-2:15 eastern for weeks the party meetings. live coverage of the senate and members gavel in right here on c-span2. right now some debate from the floor of the senate yesterday between majority leader reid and republican leader mitch mcconnell. d, w they talkede about potentialit't changes to filibuster rules. here's
chairman ben bernanke is calling on washington to strike a deal averting the fiscal cliff. he said a failure to do so could cause heavier and financial costs than the debt debacle of last year. hogstess, they will go to mediation to try to resolve their differences and save 18,000 jobs. holidays apparently such a source of financial stress 45% of those surveyed said they would rather skip. 45% use layaway programs as way to handle the financial burden. log to to fox business.com giving you the power to prosper. >> greta: obamacare may be the law of the land but that is not stopping many republican governors. they are still keeping up their fight. mary fanlon is not giving up the fight. the governor joins us. nice to see you? >> nice to see you. >> greta: tell me why don't you want to set up a stated exchange and defer to the default one? >> well, basically oklahoma said thanks but no thanks. we have a disagreement where the obama administration and the affordable healthcare act and in the state of oklahoma, they voted by a large margin, almost 65% we oppose many portions of the aff
and now we have the fiscal cliff issue that is facing congress and i think it's a real open question about whether we're going to have a politically induced recession. we're 40, 50 days away. you see a lot of turbulence in the markets over the next months but this is a political crisis that is going to be bring about an economic crisis if it doesn't get solved. but for the entire history of the country people do profoundly disagree with each other, have been and sometimes don't like each other very much have been able to sit across from each other and do the business of the american people. and that's what the moment requires now. on the question of screaming at each other we should understand that there are tremendous market incentives for people to go on tv and attack each other and insult each other verbally and you make a lot of money doing that. for the most part, moderate reasonable voices aren't rewarded with media platforms in the country anymore. and you see a tone and i think that this is a larger cultural issue. it manifests itself in politics but i don't think politics drives i
. >>> we're now only 35 days away from the so-called fiscal cliff. deep cuts in federal spending coupled with sharp tax increases by law they take effect automatically and many experts fear will throw the u.s. economy back into a recession. both congress and the white house are trying to make a deficit reduction deal to avoid the financial chaos. and president obama's reverting to some campaign mode right now to try to make sure things are done his way. our white house correspondent dan lothian is joining us now with new information. what are you learning, dan? >> reporter: well, wolf, while senior members of the administration including secretary geithner, chief of staff jack lou also top advisor meeting with -- the president himself trying to sell his vision to the public, but some say it's not a winning strategy. it doesn't take a gps to find the way to the fiscal cliff. much more difficult, finding the off ramp. at the president's first meeting with congressional leaders more than a week ago, there was a sense of optimism. >> my hope is is that this is going to be the beginning of a
at different levels. we are now facing biggest threat through sequestered. janet mentioned the fiscal cliff in one part of the fiscal cliff is these across-the-board spending cuts to take effect january 2nd. it's going to be an 8.2% across-the-board cut in education, job training and health, housing, fbi, air traffic controllers from the food safety, entire range of domestic programs. for education if you count headstart, which is at the department of health and human services a $4.8 billion cut would be the largest education cuts ever in the history of the country. that would just move us -- essentially move us backwards on whether the goal is closing achievement gaps come increasing high school graduation rates, increasing college access and college completion. our biggest challenge in the short-term this lame-duck lame-duck session this to work together with groups like the urban league and national council to come up with a balanced approach to deficit reduction. as genocide, as people who can pay more to do so without balancing the budget on the backs of children and students and worki
the likelihood of one of the 20 the people -- >> primaries again. now let's talk about the fiscal cliff and house and senate leaders expected to meet with the president next week and hopefully negotiations will continue. staffers reportedly have made little progress over the last week. politico is writing this saying that the gop's opening offer, the sources said would freeze the bush era tax rates, change the inflation can clated for entitlement programs, keep the estate tate at 2012 levels and overhaul of the tax code and not provide a revenue target. martin, if this is the starting point, if that's the starting point -- are republicans as serious about compromise as they claim? >> that offer's like the sticker price at a car dealership. >> with room. >> you know you won't pay that and then the big question unanswered now is will republicans budge on rates or revenue? we have to distinguish. republicans are open to increasing tax revenue by a cap in deductions, closing loopholes and so far they haven't shown willingness to moving tax rates up for upper income americans. do they talk about entit
. >>> they are pushing to avoid the so called fiscal cliff looming at the end of the year. all week long they have meetings with small business leaders and on friday, the president will visit a toy track are you in virginia -- toy factory in virginia. he will continue to push tax cuts for middle income americans and letting them expire for people who make more than $250,000 a year. they coming up, more on hurricane katrina. they are asking for $42 billion in aid. that includes 9 billion to prepare for the next big storm. last month's storm flooded the subway train system, and knocked out power for days. >>> get ready, we are about to get hit with several storms which are taking aim on the bay area. live with how to prepare and what to prepare for, alex? >> reporter: well, good morning, the north bay is expected to get hammered by a series of storms and the residents are getting prepared an auction see the sand bags are being filled and they are making these bags for the flooding that is certainly a possibility with all the rain that is expected. lots of people will be stopping by here throughout t
and didn't. >> we weren't going to get the negotiations required to sail off of the fiscal cliff. >> there's the tax hike romney's question i consider them very different projects. obama is trying to put them together. the same way he wants you to -- what i hear is that one or all of them will be sailing off january 1st and the quit jumping medicare because they get 30% less i believe the member is the payroll taxes go up which weeks all the people of that have never heard of the sequester. i am having a very difficult time visualizing with what february looks like when the press gets a hold of this and then all of a sudden we also have the debt limit. i just can't see what we are going to do. >> the debt limit is an additional tool to explain to obama that he isn't the king and like henry viii you have to go to the parliament for money. he might want to nationalize monastery's but i don't think he can get as much these days as back then with that approach so he has to go to the parliament, has to go to congress for the resources for the debt ceiling, for all of these things. and look it w
are progressives willing to give president obama? are they really willing to go over the fiscal cliff? >>> in addition to being thanksgiving tomorrow, it's the 49th anniversary of a moment no one my age will ever forget, dallas. get yourself a copy of my new york times best seller "jack kennedy", out in paperback and a great gift for the holidays. you're watching "hardball" a place for politics. >>> i'm amanda drury with your cnbc market wrap. the dow was up by 48 points, s&p up by three and dow added three. >>> consumer sentiment rose slightly in november but below what analysts expected. jobless claims slid by 41,000 last week but the numbers are still distorted by the effects of hurricane sandy. >>> a bankruptcy court judge granted permission for hostess brands to begin shutting down. >>> and that is it from cnbc, first in business worldwide. have a very happy thanksgiving, everybody. back to "hardball." >>> welcome back to "hardball." with a victory behind him, democrats are feeling more confident in talks with republicans about the fiscal cliff. many on the left have been vocal i
to divert the so-called fiscal cliff. robert greifeld speaking at the brookings institution in washington on monday. last friday% obama met to discuss a plan for avoiding the fiscal cliff. [inaudible conversations] >> good afternoon. my name is glenn hutchins. a vice-chairman networking spirit of i'd like to welcome everybody here today. congressman oxley, great pleasure to see you. i've got to cut our remarks on sarbanes-oxley now. it is my great pleasure to welcome my colleague and friend, bob greifeld, cto of nasdaq to brookings. there's no doubt he's a successful business executive under his two valued brookings has increased by a factor of four. six dollars per share to $25 per share. gone up to 1.7 million. cash from 800 million major and is taken over the niche market in the united states and made it one of the most important global markets. 10 clearinghouses around the world. that is the facts. those are very straightforward and he is a track record to be proud of. the market he is built, however, is the reason why we've asked them to be here today. the nasdaq stock market list 32
the next few weeks with this looming fiscal cliff. rick: i want to talk to you more about the negotiations over the fiscal cliff in a second, but as far as the consumer confidence part of it goes -- >> yeah. rick: -- where do you think that's coming from? is it just because the election's over in people naturally sort of start or to feel a little more confident no matter who wins? >> yeah, that's exactly right. people kind of happy all the negative advertising, i live in virginia, we were just deluged with negative ads against obama and romney and all the candidates for month after month, and now you're getting a little sense of relief that we're back to normalcy. rick: you know, okay. so the role that consumer confidence can play, because i remember talking to you, gee, must have been like 2009, and the president had just taken office, and the economy was really on a downward slide. >> right. rick: and consumer confidence was low, and a lot of people like you said that that was contributing to the slide, the fact that people had such anxiety about the economy. so conversely, if people are
game was in florida. can he put this ground game to work to fight the fiscal cliff? the "hardball" story on that one is coming up right now, the place for politics. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. >>> the noshlts has just listed jack kennedy elusive hero moon the best-seller list. it's a big honor for the paperbook edition. it's a great book of american heroism, the story of jack kennedy, who he was when he lived, who led us, and, of course, who inspired us. it's a perfect upbeat gift for yourself or someone who shares our love of history and american greatness. we'll be right back. were a spac, zeebox would be an alien, first officer. just like an officer helps a captain explore the universe, zeebox helps you discover what shows are most popular, where the biggest buzz is, or what the
-up demand. can we tell yet? >> one thing i'm worried about is the fiscal cliff issue, the tax increases and spending cuts that take place january 1 unless congress and the president reach a deal. businesses have been worried about that for months. maybe consumers are start-- maybe it's starting to creep into their thinking as well. we saw a weaker consumer sentiment number last week. that's thing to watch to worry about as we wonder what the holiday season will be like. >> brown: nariman behravesh, is it strange or do things really change? on the one hand, we want people to get out and spend, but on the other hand, we still talk about over-spending and spending money people didn't really have was part of the problem that got us into this state in the first place. so what's-- that sounds like a little bit of a disconnect. where are we on that? >> well, i think neil is right in saying consumer finances are in much better shape right now. so in that sense, the kind of spending we're seeing now is more sustainable. it's healthier in a sense. debt levels are down. people are not taking, say,
. >> this is why we need a solution to the fiscal cliff. >> it comes down to the fiscal cliff. government spending. it is part of the sequestration. >> this is the whisker cliff. >> i am not sure sex change operation is part of the sequestration. >> there was a joke on that phrase, but i will let it pass. >> you can think of one? >> i did. bill, are you naturally hairless which is envied by all. >> he actually got a goatee that is all filled in today. >> thanks for noticing. it is here for all to see. >> looks like you like took an oreo cookie and crumbled it in a bowl and then put your face in it and then went like this. and then you say i just made a goatee out of oreo cookie crumbles. >> and i got a lot of carbs in me as well. >> do you have any comments on the story? >> there is a dividing line. unlike what lori said so uneducationally wise. >> what is that word? >> i minored in grammar. there is a difference. if you are a transgender i believe they are called, there is a difference between the ornamental and the fundamental. female genitalia that is fundamental to being a woman. hairless is n
's on the table though for the fiscal cliff to be eliminated or to be capped. >> gregg: it could go away january. it could be capped or thrown away entirely. talk to us about some of the best ways to give at the same time helping yourself with a tax deduction. >> first of all americans are generous. 2% of their income they give regardless. revenues are down because we have been through a recession. but they continue to give. it's that generosity of spirit that we continue to see through sandy and all the rest. there are a couple of things you have to know. you have to itemize on your tax return. it has to go to a qualified nonprofit. if you are giving food to people that need it you can't deduct that because it's to an individual, it has to be a qualified nonprofit. you need a receipt if are giving away $250 or more. if it is over $5,000 you need an appraisal. you need to consider the fair market value. if you are giving away clothes, it's not like what you paid for what they are basically worth. you can get receipts for stuff and money. there is a lot of different ways to do it. >> gregg: i too
it or not, the fiscal cliff. huge spending cuts and tax hikes, but president obama wants to raise taxes on rich americans. how about sitting with voters? instead of raising tax rates on the american people and accepting the damage it will do to our economy, let's start to actually solve the problem. now let's focus on tax reform that closes special interest loopholes and lowers tax rates. you know what? and it won't kill the country if we raises taxes on millionaires a little bit. it really won't. i don't think. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ >> welcome back, time for a quick check of the headlines, pope benedict xvi presiding over the ceremony today. to elevate six n
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